94% said they buy, only 1/3 did
Aug 22, 2024
94% of consumers said they were willing to pay a price premium for an energy efficient lightbulb, but only one-third actually purchased the product.
This is the problem of “Willingness-to-Pay (WTP)” research, and why not all behavioural studies are the same.
When people are asked a hypothetical, like “would you buy this product?” or “how much would you pay?”, they give you their best guess. As well intentioned as their answer might be, it...
